Indonesia: Redenomination bill will not be deliberated in 2017 – 13 Sep 2017

  • Bank Indonesia’s (BI) hopes of lawmakers deliberating the redenomination bill in 2017 have been dashed.
  • A House of Representatives plenary session on 13 Sep 17 approved six bills to be included in the revised National Legislation Program (Prolegnas) for 2017, namely bills on water resources, on copyright of printed and recorded work, on tax consultant, on social work practices, on music and on customary land rights.
  • “The government is not yet willing [to propose the redenomination bill] because of the approaching political years [in 2018 and 2019],” House Legislative Body (Baleg) deputy chairman Firman Subagyo said.
  • The government, he said, had to comprehensively disseminate information about the bill to avoid public misunderstanding that could lead to social unrest.
  • The bill on redenomination, if approved, will slash three zeroes off the local currency.
  • President Joko “Jokowi” Widodo has gone as far as saying the policy would not be implemented in the near future.

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